For the economy of China, the new normal is growth under 8% and a continual, steady rise in urbanization. Gone are the days of the Chinese Happy Meal economy. Incomes are rising. China manufacturing is becoming more tech-driven, and more sophisticated. Slowly but surely, average Chinese families are getting richer and adopting an urban lifestyle. They're not just buying Prada, they're buying Nestlé baby milk, by the tons.
Reported by Forbes.com 3 hours ago.
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